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'm jeff glor. >> glor: g plenty of violence recently that can't be explained and it got no easier today. in this case, the victims were erlunteers responding to an anrgency call on christmas eve. onr firefighters were shot. police say they were lured by a whn who was simply looking to ookinor kill them. tonight in webster, new york, just outside rochester, two of ,hose firefighters are dead, two are wounded. we begin with jim axelrod. >> reporter: just after 5:30 this morning, the volunteer firefighters in webster walked right into an ambush. >> we are being shot at, multiple firemen down. multiple firemen shot. i am shot. >> reporter: two of them were killed instantly. >> i'm pretty sure we have two d.o.a.s. >> reporter: gerald pickering is the police chief in webster. >> it does appear it was a trap that was set for first responders. >> reporter: police at the scene exchanged shots with the gunman, 62-year-old william spengler, who was barricaded on a berm near the house. the gun battle meant the fire could not be fought. seven homes were destroyed. an armored vehicle removed two of t
scott is off. i'm jeff glor. five days before the fiscal deadline, there is plenty of name calling but little evidence there is late word of a meeting tomorrow between president obama and congressional leaders. the full senate reconvened today. the president ended his vacation in hawaii early, flying back to washington this morning. but he made no public statements. if there is no deal on a budget by new year's day, nearly every american will see a tax increase. we have two reports on the stalemate, beginning with nancy cordes on capitol hill. nancy. >> reporter: jeff, democratic aides tell cbs news that senate majority leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the h
edition so unique. cities looking to make money by privatizing park and even airports. jeff flock has the story. jeff: i come to you from the giant parking garage at midway airport. it could be a multibillion dollar payday. is it a good idea or a bad idea? stay tuned. we will discuss. ♪ lori: the mayor of chicago renewing efforts to privatize the city's second largest airport. david: the proposal comes after a proposal from his predecessor. jeff flock is live at the airport. it is one of the most exciting airports in america. jeff: it is exciting because when you take off, you kind of look into the houses of various people. it is right in the center of a residential area. i am in a parking garage. this is one of the areas that they are hoping to privatize. you know, this shows off a lot of cash. they will privatize the whole airport, though. midway used to be the nation's busiest airport, believe it or not. now, just three big airlines fly out of here. southwest, frontier and delta. it still goes off a lot of cash. very attractive to private industry that would come in but they woul
funded by cbs >> it's friday welcome to "cbs this morning," everyone. i'm jeff glor with rebecca jar sis. charlie, gayle and norah are off. there are predictions but little progress in washington with a deadline for the fiscal cliff now just four days away. >> president obama meets later today with congressional leaders in one last effort to make a deal before the deadline. major garrett is at the white house. good morning. >> reporter: good morning, rebecca and jeff. in just a couple of hours at the white house the president meets with all the key congressional leaders, top democrats harry reid and nancy pelosi leading republicans mitch mcconnell and john boehner. no deal can be reached in past without their cooperation. with the meeting comes a glimmer of hope. in the past all the ifisical cliff talks meetings like this have been the least productive of all. whether he meant to or not the senate majority leader may have spoken for a nation exhausted by seemingly endless fiscal cliff negotiations. >> what's going on here? >> reporter: what indeed. president obam
" th, everybody everybody. i'm jeff glor along with rebecca jarvis. >>> the fiscal cliff is now just four days away. >>> president obama meets with congressional leaders for one last effort before they reach the deadline. major garrett is at the white house. major, good morning. >> good morning, rebecca and jeff. president obama meets with the top congressional leaders. no deal can be reached impasse without their meeting. so far the fiscal talks have been when all four of these leaders have been present. >> whether he meant it or not, it seems exhaustive. >> i mean what's going on here? >> what indeed. president obama returned to the white house in a grim mood. he met with no congressional leaders and said nothing about his efforts to avert the fiscal cliff. talks continue between senior white house and congressional staff, but that's been true throughout then tire saga. with the deadline looming there were dire predictions. >> come the first of this year, americans will have less income than they have today. >> and rekrimm nations. >> now republicans have bent over backward. we've
mulholland in the pits of the cme. we have a street fight. jeff believes there will be a fiscal cliff resolution. david wright, on the other hand, thinks d.c. will avoid the cliff, but it will not stop the bears from coming around this time. let's start with tim at the cme. and, tim, we were talking about what a low yield you get now on treasuries. people are looking for some kind of yield, and the only place you're finding it is in the stock market. >> yeah, that's true. you also get the corporate bond market, the high-yield market. the fed has really through their interest rate repression forced people into risk assets, so the fixed income -- david: let me just stop you there, tim. you say interest rate repression on the part of the fed. that sounds like you're not too happy with the fed. [laughter] >> the fed's basically taken the market disciplinary function out of the marketplace with purchasing $85 billion a month with treasuries. they've been doing that for quite some time, so they basically have been, you know, manipulating the interest rates which i think is also when people
following some troubling developments in hilldale, utah, where warren jeffs is still considered a prophet. the town's only major grocery store has shut down and his followers are being told the world will end by monday. gary tuchman investigates just ahead. >>> tonight, new concerns warren jeffs may be planning something dire from his prison cell. we have been following the saga of jeffs for years now. from his fugitive days to his conviction. jeffs remains a revered figure among his followers in the flds church even though he's serving a life sentence for actually assaulting two underage girls. now the closing of a grocery store in a town on the utah/arizona border has authorities on high alert. jeffs' followers are being told the world will end no later than this coming monday, december 31st. with the store now closed, what other preparations might they be making? at and what potential cost to themselves? gary tuchman went to hilldale, utah, looking for some answers. >> reporter: it is warren jeffs' birthday. the imprisoned prophet of the flds church. in the neighboring twin cities of c
about my good friend, senator jeff bingaman. i think most of the people on his committee feel that he's a good friend. he's been a good friend and mentor to me here in the senate in the years that i've been here, and then also when i arrived in the house we worked with each other. he's been a very good public servant for new mexico and for the united states. and he truly can wear that united states senator proudly. my dad always used to remind me, he used to say -- he said don't forget. you go to represent new mexico, but he says you're a united states senator. and jeff bingaman has worn that title, i think, very, very proudly. jeff is a rare combination of character: brilliant and humble. for jeff, it's about the work. not about his own ego, not about a monument to himself. for three decades in the u.s. senate, he has been making a difference for the american people and for our home state of new mexico. public service is a noble profession when it isn't swamped by money and when it isn't held hostage to partisanship, and jeff is the best example i know of of nobility and politics. by
developments in utah where warren jeffs is still considered a prophet. the store's only major grocery store has shut down and his followers are being told the world will end by monday. gary tuchman investigates just ahead. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> tonight, new concerns warren jeffs may be planning something dire from his prison cell. we have followed him for years. from his fugitive days to his conviction. jeffs remains a revered figure m among his followers in the church. he remains a revered figures among his followers, even though he's serving a life sentence for sexually assaulting two underaged girls. now, the closing of a grocery store on the utah border has authorities on high alert. jeffs followsers are being told that the world will end no later than this sunday. with the store now closed, what other preparations might they be making, and at what cost to themselves? gary tuchman went to utah looking for answers. >> it's warren jeffs' birthday, the imprisoned pr
traffic and get the latest from jeff. good morning. >> starting in prince george's county, not much volume here in either direction. the significance is it's on my way to fed ex and i'm starting to tailgate in about two hours for sunday's game. looking good on other roadways. pennsylvania, and branch avenue and route 50. we'll head over to the fairfax county parkway, it's 95 north, looking good in both your hov lanes and the main line, up from stafford county to the mixing bowl, and over to montgomery county, just north of the american legion bridge. light coming in from virginia around the inner loop into montgomery county. outer loop looks good as well down 270 to the split. no problems on the bw parkway or 95 between the beltways and good ride around the outer loop of the beltway around montgomery county. that's a look at your fox 5 on- time traffic. >>> jeff, thank you very much. first at 7:00, honoring one of the nation's top warriors, general norman schwartzkopf. he died yesterday from complications of pneumonia. >> he is best known for his role in leading international forces in ira
42 degrees. >> all right. we'll take it. >> time now to check in with jeff newman to see how things are moving along on the roads. >> good morning. it is docile and mellow and soporific. i'll pull out my thesaurus and see what other words i can give you. heading over to the wilson bridge from alexandria around the outer loop into prince george's county, no problems to report. again, not expecting a very busy rush hour this morning into prince george's county. same situation as you head around towards landover and to the top side of the play. heading down from gaithersburg and rockville down to the split, your travel lanes are open. in bethesda, traveling southbound on wisconsin avenue o355 just before cedar lane, you are reduced to one lane. your right lane gets by as the crews are working on the water main break and that will last reportedly well into this morning's rush hour. that's a check of your fox 5 on-time traffic. traffic. >> thank you, jeff. >>> in the developing fiscal cliff negotiations with the clock sticking, top lawmakers are being called to the white house today. it
what is going on as we head toward the end of the year. seema mody is at the nasdaq today. jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good network on the hill. i think they're going to have some kind of staged in agreement and then agree to attack the entitlement situation in the new year. >> michael, what do you make of what's going on? how do you try and trade this? at least we had some volatility the traders could trade on. now we don't have that. >> i think the lower volatility is telling you this is an extremely resilient stock market. i've been calling this the rocky balboa stock market. the entire scenario playing out is the fiscal cliff end
in utah, where warren jeffs is still considered a praophet. authorities' concerns are growing. gary tuchman investigates just ahead. e'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! [ male announcer ] yes, it is. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. >>
are live from one company bracing for fallout from the fiscal cliff, jeff flock has a preview. jeff: listen carefully to what just transpired in washington, a generator they are testing now, you can almost hear it. we are going to hear from the ceo on this subject of the fiscal cliff and what he hopes will happen and won't happen. stay tuned. tracy: the world's largest producer of gasoline powered engines seeing points for strong growth. we get past the looming fiscal cliff at the end of the year. jeff flock joins us with the company in wisconsin. jeff: is a huge fear and companies like this all over the country but particularly this one in wisconsin, a force for huge growth. these generators are home powered generators. sandy kicked up demand for this. what is their biggest fear? that the fiscal cliff gets gone over and next thing you know, we have problems. listen to the ceo talking exclusively on the fox business network. >> when you look at the fiscal cliff, everything that impact the economy and for us is housing and unemployment because that has a big impact in consumer confidence and
will go to jeff flock for that. jeff. jeff: as we speak, gm executives, that is who you are looking at right now, they are talking about the new chevy silverado. if you look at the pictures of this, there was a huge explosion as a new chevy silverado pickup was unveiled to the public. it is the number one selling vehicle for gm. this is where this thing went off. they set off an explosion down here. they are hoping for and explosion of sales. we talked to the president, for gm and he said even if we go off of it gm can still make money. we can flex and make a lot of money at fiscal cliff levels. we do not think that we need to. jeff: what do you do immediately >> we take a look at different car lines. we look at where the strength is and could be. then we look at the pent up demand. jeff: this is the silverado. they already have some kind of inventory. mark reuss said they have increased incentives. they are selling pickups. if we do not go off the cliff, they are extremely well-positioned. connell: jeff, thank you, as always. we will go back to washington for the speaker of the hou
levels on the mississippi river dropping to record lows. we find jeff flock with more. jeff: and extraordinarily difficult situation here. live pictures from the mississippi. we are on 24 barges and tow. this is the guy who runs this. extraordinary low levels. >> yes. this is the lowest levels we have seen in years. we are approaching record lows we have never seen. jeff: it is not enough to raise the levels, the rain we are seeing right now. >> it is pretty amazing what you can see at these low river stages. it is really amazing how low the water is. jeff: they have had to reduce the amount of cargo that they can ship. it is actually a fertilizer that in this middle part. the outside is actually empty barges to go upriver to bring grain back down. >> correct. jeff: how much of an impact puts back this is fertilizer for spring planting. >> salt for the roads we drive on to keep us safe. jeff: this is almost on navigable. >> if we don't get anything done, we will be off this river. jeff: they are asking the obama administration to blow up some rock formations that are now blo
's jeff this was a statement released by the father of the gunman. candlelight vigils were held across the country to remember the victims. jeff bush was with a group in san francisco and talked to people directly affected by gun violence and this weeks shooting. >> several dozen gathered at the playground in dolores park at sundown. it was a fitting place to remember the young lives that were lost on friday. (reading of names. ) >> everyone was clearly moved by the east coast mass murder but stephanie dalton had a heavier heart than most. stephanie dalton knew one of the victims >> i work with jazz muscians and a very dear friend of mine, jazz saxaphonist, jimmy greene, who is a very beautiful person who's five year old girl, ana greene was lost. >>reporter: stephanie could not contain her emotion when she showed me the picture of her friend's daughter. >> ana was just bright and full and what everybody told me she had the whole world with two loving parents and a father who writes and plays the most beautiful music. >>reporter: megan scully has also been directly affected by a mass s
petallides watching traders' reaction from the floor of the nyse, jeff flock watching action on the trading pits of the cme and we have you covered with all-star fed panel. first we begin with nicole petallides on the floor of the nyse with stocks at the top of the hour. the fed now up 6. nicole: we are up six points, we are for six day is a row for the dow jones industrial. some would say people were waiting on the fed, talk about more easing and more stimulus and traders, they were asking about extending the programs, we will see about that. as far as major market averages the dow is just above the unchanged line like the s&p 500 and the ticket in nasdaq pulling back and you see the markets are very tepid and hovering right near zero and waiting for each headline. dennis: thank you, critics are calling it q e forever. the expected in moments to announce a new stimulus. cheryl: a current bond buying program, operation twist is scheduled to end. let's bring in our all-star panel. let's start with gerald 0 driscoll who is with the cato institute. you say we need to end the bond buying progra
of this fiscal cliff talk. jeff flock talks exclusively with the ceo coming up. we will be right back. dagen: top winners on the nasdaq. take a look. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung functition all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at connell: we are back to talk about the largest producer gasoline powered engines i
in those parts. the weather is also wreaking havoc on commodity prices. here is jeff flock with more on that. jeff: good news on the drought front. that is exactly what they need is that kind of moisture. take a look at the pictures. we have been worried here. i am in the oke. right now. >> it really helps the wheat market. we will expect to have a better crop. jeff: and helps with the situation on the mississippi river. you can get shipments up and down. >> all of that really plays into it. jeff: you said this market is pretty thin right now. >> a lot of money on the sidelines with what is happening in washington, d.c. the fiscal cliff has everyone worried. jeff: virginia, always appreciate your insight. thank you. a lot of people talking today. also, about the merger. even though it is competition here, it also is an acknowledgment. they must have been doing something right here in chicago all along. connell: every time you think about futures and trading floors and what it means for human beings, yes, it is a big story. jeff flock, thank you. as we continue, the other big things c
. that is one of two binding constraints on our economy. >> eliot: before jeff i give him his moment, the reason i disagree is there are trillions of dollars of capital signature on the sidelines not being allocated and not being allocated for a host of reasons primarily a demand crisis and the government given the deficit, spends it. in consumption and its own investment, that seems to me to be the trigger we need to get the economy going. jeff, tell me why you disagree with me or ed. >> i do agree with you eliot. the proof of the pudding is the fact that we did cut tax rates on the rich in the early 2000s under president bush. they're the job creators, the investors, we got a bad economic recovery in expansion. virtually no job creation in that period. the reason is by in large what you're talking about. cutting tax on the rich is not the way to get growth. especially when taxes are already low. the way to get growth now is that we need more demand stimulus and the real danger is all this talk about cutting govern
of interviews with retired senators roll on. my conversation with jeff binghamton about why he wants to change the senate's rules and his own changing views on issues like same-sex marriage. you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. that's what may help lower your cholesterol and -- well that's easy oh, let me guess --ou see this? more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, it's not just a fiscal cliff that looms at the end of the year. a number of washington veterans are packing up their offices and they're not
to bring these jobs back. >> what do you think about jeff immelt's article where he says i'm bringing jobs back to america makes more economic sense. >> he was bringing jobs back to america. i wasn't prepared for this quiz this morning. i can tell you from memory, he brought a bunch of jobs back in lexington, kentucky. >> he is stoned. >> get lexington, kentucky out. >> do you feel like we do? we're going to kick out with frampton after he's done with this answer. >> he brought back a bunch of jobs at lexington, kentucky but at much lower wages. >> what kind? >> it was appliance jobs. >> they have the huge apply hans city down there and all these massive buildings and their own zip code and one building after another closed down. he's starting up one assembly line after another. are they going to get paid $30 an hour? no. >> here's the point. how do you have a ro best recovery when you have wage compression, people who made $30 an hour making $14 an hour. how do you grow an economy like that. >> the point is do we want these jobs building in germany or alabama. want them in lexington, kent
to privatize the cities i second biggest airport. jeff: this was the world's busiest airport from 1948 to 1961. now it is just three big airlines that call this home. southwest, frontier and delta. it is still a huge cash generator for the city. he famously had a deal to privatize the city's parking meters and the problem is, they took all the money they had and spent it already. mayor manuel is under some scrutiny. as i said, both are choosing to do so. the problem is, if you get that money up front and then you spend it, not such a hot deal. they had a $2.5 billion deal before. the problem is the financial downturn of 2008, 2009 hits. it is a possibility that this could all be done privately. it generates a lot of income for cities. the argument is private industry can do it better than public government can do it. dagen: jeff, thank you very much. happy holidays. merry christmas. jeff: thank you, dagen. dennis: "the hobbit" is becoming a trend in hollywood. it took in $36.7 million. the action thriller starring tom cruise debuts in second place "this is 40" is coming in at third. that is fo
: jeff immelt for the hour. next. >> rose: general electric is the nation's largest industrial company. it employs over 300,000 people around the world. it makes everything from aircraft engines to power plant turbines to medical imaging equipment. the company has evolved over the last decade over jeff immeant's watch. he has led a global expansion and shed once treasured businesses such as plastics and insurance. in 2011, president obama named him to lead the council on jobs and competitiveness. last month, the country created 146,000 jobs, exceeding expectations in the wake of hurricane sandy. further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to be back with you. >> rose: we've talked many times about g.e. since you took over, i think once since -- just after 2001. where is the company today in terms of where do you want it to be and where do you want it to be in the next five years? >> i think, charlie, what we've tried to do is simplify the po
asked general electric chairman and ceo jeff immelt for his thoughts on the looming fiscal cliff and the impact it could have on the u.s. economy. >> i'd make a couple comments. we've got to get this done now. not there are people who write and go on news shows and say we can let it lapse two weeks. that is specifically not true. we need this to get resolved now. not because because jim mcnerney will say it or jeff immelt will say it, but the millions who work for us, their lives are in flux. this is incredibly credible that we get it done now. we need revenue. everybody knows we need revenue. >> i think the president is right in asking for more revenue and therefore not extending the bush tax cuts to those with more than $250,000. >> bowles-simpson, there's not been one commission that says we can do this just on spending cuts. there has to be revenue. i think speaker boehner is the only guy that can lead us in that. >> that means you've got to take the republicans from the house of representatives and make the deal. >> and i trust that he could do it. >> we'll have more of that
long it became the 12-13-12 concert. jeff glor is here with the highlights. jeff, good morning. >> reporter: charlie, good morning touchlt it seemed like everything about the night was big. the length of the concert, nearly six hours. the list of performers, 17. promoters are hoping the biggest number of all is the amount of money raised. >> this has got to be the largest collection of old english musicians ever in mad 17 square garden. >> reporter: mick jagger was right, but it wasn't just englishmen performing at last night's concert for sandy relief. the stage was full of artists and presenters who grew up in sandy's path. >> my city, new york city. ♪ put your cell phones in the air ♪ ♪ we can celebrate love >> i'm here to talk to you about seaside heights. >> long island. >> i was born in brooklyn. >> staten island. >> the good part, not the wootang part. >> we're just too mean to lay down and die. ♪ >> reporter: an epic lineup for an historic show. ♪ only the good die young >> reporter: available to two billion viewers. the 12-12-12 concert was the most widely di
for one wisconsin generator company. jeff flock is live with that story. first, some of the winners and losers. ♪ le announcer ] where do you turn for legal matteters? at legalzoom, we've created a better place to handle youregal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to aner any questions. get started at today. and now you're protected. ashley: superstorm sandy causing devastation for many americans. massive power outages sparked a booming business for one wisconsin company. jeff flock has more. jeff: whenever there is a huge economic recovery in this country, this is what it will look like. this is a company that makes generators like no other. they
this break. first, take a look at metals. we are back after this. ♪ two. lori: jeff flock in the pits of this cme. jeff: we have a number of factors running today. i don't think any of them have to do with the fiscal cliff. you can see for your self the volume. there is tumbleweeds going through the pits. i will show you reasons why oil is off today. they all have to do with the middle east. suspended production with baghdad over prices. iran, to prices of military exercises. military exercises starting there today. that makes the oil market very jittery. you can see a little thin here. everything from wti to brent to gasoline futures to heating oil futures. we have a lot of cold weather coming in. a much more need for heating oil and the like. i didn't hear in that ad room. trading volume is light. tracy: so cool. jeff flock, thank you for doing that for us. [talking over each other] lori: as we do every 15 minutes, we chuckled the markets. nicole petallides on the floor of the new york stock exchange. nicole: a lot of down arrows. zynga is really bucking the trend. it is up 3.25%. i
his mercedes crashed, flipped and caught fire. in the passenger seat, his teammate, jeff brown. brent was given and failed field sobriety tests. brown was rushed to a hospital where he died. >> once the officers learned that brown had passed away then mr. price-brent was under arrest for intoxication manslaughter. >> on behalf of josh, a tremendous loss to him. >> reporter: it's not the first time that brent has been charged with drinking and driving. he was arrested in college and sentenced to 60 days behind bars. from his jail cell overnight he released a statement. it's been a tragic week for the nfl. last saturday, kansas city chiefs jovan belcher murdered his girlfriend and then killed himself just hours earlier, police talked to belcher found passed out in his car. >> how are you doing tonight, man sf. >>. >> reporter: belcher had been drinking. but since he wasn't driving, the police cut him a brack. with no way of knowing what he was about to do. >> crisis in egypt showing no signs of easing this morning despite a major concession by the president morsi. he said that he grab u
the sequest tration cuts should they kick. in despite jeff sessions's effort not on the table in an effort to negotiate closing the closing gap between revenue and spending. the u.s. department of agriculture that administers the program says the increase in snap participation in the 2008 to 2010 period of economic decline including the recent recession was consistent with the increase in the previous period of economic decline. but as the unemployment rate dropped the number of those participating in snap continues to rise. skeptics point to one key factor. >> a lot of people don't realize one of the provisions in the 2009 economic stimulus bill was to essentially evas rate the work requirement -- eviscerate the work requirements for food stamp. today in most state there is to requirement whatsoever to work in exchange for benefits. >> the usda maintains that the snap program has a workbe requirement for able-body adults who don't have dependents and it's up to the state to enforce specific guidelines. chris? >> chris: thank you. things were calmer today in the nation's newest right to wo
and the stocks you own. jeff flock on the next scene live. ♪ david: time for a speed read of the day's other headlines, five stories in a minute. buffet's claiming up to $1 billion from reinsure over a life insurance deal reached two years ago, reid says the claim is without merit. union management negotiators agreed of federal mitigation to end the week long port strike in los angeles and long beach. they are striking at ten of the 14 terminals at the nation's busiest port complex. apple nearly doubling itunes gee geographical reach with plans to expand into 56 additional companies as apple faces stiff competition from microsoft and google. warren likely to join the banking committee next year, a well-known critic of the banks calling for regulation and limited risk. carl icon abandoning the bid for oshkosh corporation after just 2 # 2% of the company shares were tended. he sought 25% of the shares in the offer, and that's today's speed read. all right. liz: doesn't usually back out of things. david: he doesn't, but he did. low water levels, threatening to bring the busiest waterway in the
? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of success are the ones that you negotiate behind closed doors, not the ones that turn into hostile battles and spill out into public, which is what we're seeing noup. >> i understand that, but at the same time, what wh are we going to have a deal already? people are so frustrated by this. we've had 13 months to think about. now we're down to 26 days. bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that
lined up in oakland to trade their guns for cash. kron4's jeff pierce has the details. >> one hundred and twenty one, one hundred and twenty two, one hundred and twenty three, one hundred and twenty four. >>reporter: olois simmons of youth uprising counted the cars waiting to turn in guns for cash saturday afternoon in oakland. nearly two hundred cars with guns in their trunks waited hours for the hundred dollars for each gun for as many as three guns. it was one of the most succesful gun by back programs ever held in the city. >> one gun off the street is good but the whole back side of a paddy wagon is even better. >>reporter: that success was credited to youth uprising's ability to organize and promote the event beyond what a police department is able to achieve. >> we had young people as the voice of it we did out reach hand to hand in communities with community members reaching out to each other, you get a drastically different outcome then when you have the police reaching out. >>reporter: the oakland police department was more than pleased to process and take possession of thos
soon. >>> up next, general partner jeff jordan is sounding a warning to traditional retailers and all investors need to hear this one and outrage across the web about instagram's plan to sell your photos that you post. we'll get to the bottom of this. stay with us on it. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morn 24 hours. zero heartburn. >>> welcome back. states a
. kron4's jeff pierce has the story. >> we are here to represent the twenty six people who were massacred in newton connectticut (naming of vitims) >> reporter: local members of the brady campaign the national group that has crusaded for the ban of assault weapons for over three decades laid on the cold concrete of justin hermin plaza in san francisco saturday afternoon. >> we've been losing children to gun violence for a long time, i'm hoping this is the straw that broke the camels back. >> it has a greater impact when it is twenty kids at once there is something about first graders that strikes peoples hearts. >> reporter: the brady campaign and others like them are mobilizing to keep the dialogue this national tragedy has created in the forefront of their effort to ban assault weapons. >> i'm hoping that these twenty six people did not die in vain that these twenty children, their lives have to mean something and this is what they are going to mean. >> reporter: the campaign is encouraged that their pleas have finally reached as far as the president himself. >> with him establishing th
. senator jeff merkley, a democrat from oregon is trying to change that. he's got a proposal to force talking filibusters in the senate. it wouldn't change what i think is a central part in the senate, the 60-vote super majority, but it would make the filibuster into something that the minority had to put some effort into using. you have to want it. now, so i want to be clear on merkley's proposal. if it passed, the minority could still filibuster anything they wanted. they couldn't subject almost everything to the same 60-society challenge we have now. all they would have to do is talk. tell the american people why. and they probably wouldn't even have to do that that much, because the majority can't just let them talk all the time, they have to let them get stuff done. but even that modest reform is too much for many senators. "the huffington post" reports that a bipartisan group of lawmakers led by herman cain and levin are proposing a counter proposal that does even less. it would eliminate some redundant opportunities to filibuster. give quicker consideration to some nominations,
weeks left from the fall of the fiscal cliff. jeff flock is live with a companies ceo. always try to give you a unique perspective. this is mr. transmission. one of the franchises. these are small businesses all around the country that are now having to prepare for the potential of huge tax increases as we go forward. >> yes. yes. we are preparing. we will be looking at what we need to pull back on with some things that we actually would have spent money on. you are already putting aside money to pay the additional tax bill. yes. we are in the middle of budgeting. we will be moving was dollars they do not make a ton of money. people think that any business makes a lot of money. >> we do not. most of our facilities make about a half a million a year. jeff: when speaker boehner says let's have the tax hike hits at more than 250, what does that mean for you? >> there are some small businesses that maybe go over that small marker. jeff: that could make a huge difference. that takes a lot of people, small businesses like this one out of the picture. lori: interesting thought. jeff floc
's jeff cutmore is live in london for us. man, the bad news keeps coming out of citi. >> it is staggering. i thought for the benefit of this conversation i'd just have a look at the population of some u.s. cities and towns and in flint, michigan, they come in at over 100,000 here. and west palm beach, florida, just over 100,000. and that's basically less than citigroup have laid off since the financial crisis. 96,500 jobs gone at various units across the business, up to to 2011. and now they're adding on top of that another 11,000 across various businesses here. just try to save the company about $1 billion. that is just quite remarkable when you put it up against the size of flint, michigan. moving you all, i want to talk about apple here. shocking day in the market for them yesterday. the worst decline in four years for this stock. they are now officially once again in bad territory with a 23% decline from the all time high on the share price. the market getting a little nervous about competition particularly in the china market. is it possible that nokia may have a crowd pleaser in the
on that and a check with the markets, jeff cutmore is live from london. good morning you to. >> good morning. you know, uncle ben has gone back into his toolbox and he's pulled out one thing we were expecting which was a continuation of the bond buyback program. so that was pretty much baked into the story. but the thing we weren't expecting, perhaps, was this change in policy and this tying of zero interest rates to the unemployment rate. he now saying it remains at near zero until we get the jobs rate down below 6.5%. we're currently sitting at 7.7%. so there is a little room to go yet. we have near zero interest rates to come. unsurprisingly, markets like it but not quite as much as you might have expected given that they knew part of the deal was already due to come down the pike. >> apple and the headlines, what do we know about them trying to dive head first into the tv market? >> yeah. it's a fascinating story, isn't it? apple share price has gone from the dizzy heights of over $700 and we're now in $500 and change territory. part of the reason think the momentum is slowing for apple. what come
vigil for the victims. jeff glor is here with that story. jeff, good morning. >> norah, good morning to you. before his speech last night, president obama told the governor of connecticut that friday was the most difficult day of his presidency. he carried that knowledge with him on stage, delivering a speech that said something must change. >> we gather here in memory of 20 beautiful children and 6 remarkable adults. >> as president obama addressed the crowd at sandy hook high school last night. >> i can only hope it helps for you to know -- >> he said he spoke for all parents. >> -- that you're not alone in your grief. that our world too has been torn apart. that all across this land of ours, we have wept with you. >> but he also spoke as a weary leader. >> since i've been president this is the fourth time we have come together to comfort a grieving community torn apart by mass shootings. we can't tolerate this anymore. these tragedies must end. surely we can do better than this. >> and as he read the names of the 20 children who died in friday's shooting som
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